France: Takeover Sanofi to Acquire Biotech Company Synthorx for $ 2.5 Billion
Sanofi and Synthorx entered into a definitive agreement under which the French group will acquire all of the outstanding shares of the company for an aggregate equity value of approximately $ 2.5 billion.
Paris/France; San Diego/California — Sanofi will acquire the clinical-stage biotechnology company Synthorx. The transaction was unanimously approved by both Boards of Directors. According to Sanofi CEO Paul Hudson, this acquisition fits perfectly with the strategy to build a portfolio of high-quality assets and to lead with innovation. Additionally, it is aligned with the group's goal to build their oncology franchise with potentially practice-changing medicines and novel combinations.
Synthorx’s novel discovery platform has already produced a molecule that has the potential to become a foundation of the next generation of immuno-oncology combination therapies. By selectively expanding the numbers of effector T-cells and natural killer cells in the body, THOR-707 can be combined with Sanofi's current oncology medicines and their emerging pipeline of immuno-modulatory agents for treating cancer. Moreover, the company’s pipeline of engineered lymphokines holds great promise not only for oncology but also for addressing many autoimmune and inflammatory diseases, says John Reed, M.D., Ph.D., Global Head of Research & Development at Sanofi.
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Under the terms of the merger agreement, Sanofi will commence a cash tender offer to acquire all of the outstanding shares of Synthorx common stock for $ 68 per share in cash for a total enterprise value of approximately $ 2.35 billion. The $ 68 per share acquisition price represents a 172 % premium to Synthorx’s closing price on December 6, 2019.